Israeli startups raised $650m in August

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised over $6.5 billion in the first eight months of 2020, despite the Covid-19 crisis.

Israeli startups raised nearly $650 million in August, according to Start-Up Nation Central. The figure may be more as some companies prefer to remain in stealth and not to publicize the investments they have received.

After raising a record $8.3 billion in 2019, according to IVC-ZAG, which easily surpassed the record $6.4 billion raised by Israeli tech companies in 2018, and $5.24 billion in 2017, 2020 began strongly with $5.25 billion raised in the first half of 2020. Thus the $1.35 billion raised in July and August brings the total for the first eight months of the year to over $6.5 billion, well on course to surpass last year's record amount, despite the Covid-19 crisis. In some instances, financing rounds by tech companies that facilitate remote working and healthcare and cybersecurity, have been boosted rather than hampered by the pandemic.

Just six companies raised 75% of the amount in August. Revenue intelligence company Gong.io led the way last month with a $200 million financing round, data base company Redis Labs raised $100 million and ecommerce marketing platform Yotpo raised $75 million. Deep data company proteanTecs raised $45 million, and cybersecurity startups Perimeter81 and Silverfort raised $40 million and $30 million respectively.

Published by Globes, Israel business news - en.globes.co.il - on September 1, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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